Strategic Management and Leadership - 738 Words

Case Study Discussion Module: | Strategic Management and Leadership | Session: | Introduction to Strategy and Strategic Management | Submitted by: | Lord Mills, | Exploring Strategy: 9th edition, 2010: Johnson, Scholes and Whittington: Prentice Hall Publishing LEGO Group: Working with Strategy – pages 542 – 546 1. Explain how the development of strategy at the LEGO Group reflects the key characteristics of strategic management. As a reminder, strategic management has three key characteristics: strategic position, strategic choices and strategy into action (Johnson, Scholes and Whittington, 2010. Exploring Strategy, 9th edition. Virginia Woolf and The Judicial Imagination. London : Prentice Hall Publishing.) Let’s use the†¦show more content†¦Furthermore and as explained in point 1 above, children – as ultimate consumers of LEGO products – were maturing earlier leaving no choice to LEGO but to improve/upgrade its products and services offerings * The power of suppliers: although most toys were produced in China, LEGO had its production in high cost countries leading to high procurement costs. * Competitive rivalry: LEGO was facing strong competition from much bigger companies present in the local market such as Mattel and Hasbro 3. What were the alternative strategies facing the LEGO Group in 2004? Why do you think the LEGO Group followed the course that they did? Despite the new strategy (1995 – 98), LEGO experienced its first ever deficit in 1998. The decline was mainly due to major fluctuations including the rapidly changing environment. In 2004, LEGO faced the following alternative strategies: * Moving into the digital gaming: with the strong competition from ‘digital’ companies, LEGO could have envisaged moving into the digital era in order to compete with these new companies. * IncreaseShow MoreRelatedStrategic Management : Leadership And Management1421 Words   |  6 Pages Strategic Management Ashlee Waller Nightingale College of Nursing Leadership and Management 330 Ms. Clarke November 9, 2014 Strategic Management, according to the text, involves conducting an environmental scan which includes customers and knowing competition, establishing goals, setting targets, developing an action plan, implementing the plan, and evaluating success (Hubler, 2014, p. 331) This is used to establish a company’s vision or mission. This process helps a company to gain awarenessRead MoreStrategic Management and Leadership25577 Words   |  103 PagesDiploma Level 7 in Strategic Management and Leadership The London Academy for Higher Education: Extended Diploma in Strategic Management and Leadership Course Manual 2011 / 2012 Contents How to use this Manual About the London Academy for Higher Education About the Extended Diploma in Strategic Management and Leadership Course Module Brief Entrance Requirements Core Units Unit 1: Developing Strategic Management and Leadership Skills Unit 2: Professional Development for Strategic Managers UnitRead MoreStrategic Management and Leadership2372 Words   |  10 Pagesbetween Strategic Management and Leadership The strategic management process helps institutions identify what they intend to achieve and how they will accomplish outcomes. The term strategic management is used to refer to the entire decision-making process. Strategic management must evolve by predicting the future (more effective planning), thinking strategically (increased responses, evaluation of strategic alternatives and dynamic allocation of resources) and creating the future (strategic planningRead MoreStrategic Management : Strategic Leadership1516 Words   |  7 PagesStrategic leadership is defined as the ability to anticipate, envision, maintain the flexibility, think in strategic manner, and inspire change. It is essential to have a competent strategic leader as this will impact the performance of the firm directly due to being in the position to make crucial decisions on behalf of the firm (Ireland et al, 2005). A clear distinguishment needs to take made. Strategy is sets of actions that are needed to be performed in order for change to occur that will leadRead MoreStrategic Management : Strategic Leadership1085 Words   |  5 PagesIntroduction The focus of strategic leadership is the enduring performance potential of an organization- achieving the potential of the organization over time so that it will thrive in the long term (Hughes, et.al, 2014). Strategic leadership happens when individuals create the direction, alignment, and commitment needed to achieve the enduring performance potential of the organization (Hughes, et.al, 2014). Leaders are more strategic when they are strong strategy makers, that is, when they developRead MoreStrategic Management and Leadership Skills1089 Words   |  5 PagesDiploma in Management Studies Assignment Brief UNIT TITLE: Developing Strategic Management and Leadership skills Assignment: Tutor: Date Set: Date of Submission: Instructions: Mr Tayo Tewogbade March 2011 17th April, 2011 Answer all questions Learning outcomes and criteria covered by this assignment 1. Understand the relationship between strategic management and leadership 2. Be able to apply management and leadership theory to support organisational direction 3. Be able to assess leadership requirementsRead MoreStrategic Leadership And Management Strategies1256 Words   |  6 Pages Within recent business world , strategic leadership and management has become highly influential factors by which the organisations are reaching their goals more easily and thereby competiveness is increasing between companies and businesses. As a result , it is become essential for organisations, to adopt the right leadership and management strategies. This study will thereby will focus on the following issues asked in the following questions, and thereby will advance on the next sections andRead MoreStrategic Management vs Leadership3605 Words   |  15 PagesStrategic Leadership vs. Strategic Management: Untying The Gordian Knot Robert M. Murphy, Ph.D. Professor of Management United States Army War College DISCLAIMER This views expressed in this paper are those of the author and do not reflect the policy or position of the United States War College, the Department of the Army, the Department of Defense, the Department of State, or any agency of the U.S. government. Note from the Author This paper is a work in progress. The purpose of thisRead MoreStrategic Leadership And Management Strategies3565 Words   |  15 PagesIntroduction Within recent business world , strategic leadership and management has become highly influential factors by which the organisations are reaching their goals more easily and thereby competiveness is increasing between companies and businesses. As a result , it is become essential for organisations, to adopt the right leadership and management strategies. This study will thereby will focus on the following issues asked in the following questions, and thereby will advance on the next sectionsRead MoreHp Strategic Management and Leadership4234 Words   |  17 PagesAssignment Strategic Management and Leadership Name: Thanh Long DO Student ID: 08025668 Word count Task A: 3089 Task B: 481 1 Table of Contents TASK A Question1: 1.1 External environment of HP PESTEL analysis Porter‟s Five forces 1.2 Opotunities and threat Question 2: 2.1Internal analysis of HP 2.2 Strength and Weakness Question 3: Question 4: 4. Development strategies (Ansoff) Question 5: 5. Key internal and external stakeholders 14 3 3 3 6 8 9 9 9 10 11 TASK B 1. My leadership development